Property tax solution faces competition from petition drive
It looks like a legislative committee has come up with a plan to address the state’s nagging property tax problems. Weeks of meetings by the Revenue Committee resulted in the plan, which now needs buy-in from the Governor. Aye, there’s the rub.
During a recent legislative retreat, Revenue Committee Chairwoman Sen. Lou Ann Linehan of Elkhorn told her colleagues the committee has spent a large portion of the interim looking at the property tax problem from a number of angles. While it won’t be easy to get a bill passed in the 60-day session, the Legislature has no choice.
Looming over the whole discussion is a petition circulating that would provide landowners a state income tax credit equal to 35 percent of their annual property tax bill. Of course, it would also blow a $1 billion hole in the state budget to provide the necessary funding.
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